In an interview for the Romanian Press Agency (Agerpres), Bucharest Stock Exchange (BVB) President Lucian Anghel opines that the stock exchange represents the most transparent way of privatizing a company, bearing in mind the way in which the price is established and the wide pool of investors. Improving the corporate governance of state-owned companies is another advantage of flotation on the stock exchange.
“In order to have better liquidity after flotation, the listed package should be as large as possible. Electrica’s case was a model for success, considering the structure and the value of the offer. In what concerns the companies that can be floated in 2016-2017, Hidroelectrica is surely awaited by a lot of local and international investors, but also other companies such as Salrom and Bucharest Airports could have important success through flotation on BVB. We hope a broker would manage to break the ice and float a private company on the main market. This event could be similar to the 2012 moment when at the end of the year we floated the first issuance of RON-denominated bonds after many years, and then, after this success, in just three years’ time we have already witnessed several bond issuances intermediated by BVB, whose total value has reached approximately EUR 1 bln,” Anghel emphasized.
